Baltimore Metro

March 2024 | 
Home Demand Index: 80 | 
Tier: Slow

Metro Area Overview

Demand for homes in the Baltimore Metro area rose in February according to the Bright MLS | T3 Home Demand Index. The Index, at 80, was 15.9 percent higher over the month and reflected a Slow pace of buyer activity. Compared with one year earlier, the Index was 3.6 percent lower.
The market trend line, below, provides a high-level monthly overview of the Home Demand Index for each of the metro market areas within the Greater Baltimore Metro Area. The Home Demand Index is baselined at 100, with 90-110 indicating a steady market. Index values above 110 indicate moderate and high activity while Index values below 90 indicate slower or limited activity. For more information for a given period of time, click on any point on the map to pull up the monthly report.
Metro Market Trend Data by Bright MLS | T3 Home Demand Index
Each of the market areas listed above are defined as follows:
  • Baltimore Metro – Anne Arundel, MD; Baltimore City, MD; Baltimore, MD; Carroll, MD; Harford, MD; Howard, MD;
  • DelMar Coastal – Somerset, MD; Sussex, DE; Wicomico, MD; Worcester, MD;
  • Maryland Eastern Shore – Caroline, MD; Cecil, MD; Dorchester, MD; Kent, MD; Queen Annes, MD; Talbot, MD;

Baltimore | March 2024

Home Demand Index

VIEW DETAILS
Demand for homes in the Baltimore Metro area rose in February according to the Bright MLS | T3 Home Demand Index. The Index, at 80, was 15.9 percent higher over the month and reflected a Slow pace of buyer activity. Compared with one year earlier, the Index was 3.6 percent lower.
Buyer interest in all types of homes, except luxury condos, increased in February. The Index for luxury single-family homes rose the most, up by 48 percent over the month. Although down from the previous month, buyer interest in luxury condos remained stronger than any other segment with Moderate demand. Demand was weakest for entry-level and mid-market single-family homes, each with buyer interest in the Slow category. The inventory of homes available for sale remained relatively lean in February and was lower for each type of home over the month. The months supply ranged from 1.7 months for mid-market single-family homes to 3.2 months for luxury condos.
Monthly Statistics for March 2024
Home Demand
Index
80
(Slow)
Home Demand Index
from prior month
69
Home Demand Index
from prior year
83
Index change
from prior month
15.9%
Index change from
same time last year
-3.6%
Bright MLS | T3 Home Demand Index

stage.homedemandindex.com